Modern Ikorodu terms of commercial activities have behind it, a long history dating back to very early days. Suffice it now to say that such Ikorodu business magnates such as late Chief Shonubi, Alias Owolowo, was one of the early business tycoons of Nigeria and one of the richest Nigerian of his time. Apart from running Ferry services from Ikorodu to Lagos, he established a lead in the Stock-fish and Tobacco trade. He was the son of Iyalode Efun who was also reputed to be the richest individual in Ikorodu. She had the only transport network in Ikorodu in the early forties. Another commercial outfit that gained worldwide fame was the Ikorodu Trading Company (ITC) which exhibited the finest in commercial organisation qualities and acumen. The founding fathers of ITC, Alhaji Chief S.O. Gbadamosi and Alhaji Rabiu Allison are today of blessed memory. Today, the name of Papa Gbadamosi is known throughout the length and breadth of this great Country, as a very successful Businessman and Industrialist.

It is worth to mention some of those that contributed daily towards the commercial and industrial activities in Ikorodu, these include Bab Sheriff (A Printing and Light Packaging Outfit); Expo Aluminium, one of the best in the fabrication of Aluminium Windows, Doors, Railings etc.); Ragolis Spring Pure Natural Water; Abel Abu Garment Industry, Olokunola Polythene Bag Industries (Polythene Bag Producer); Construction One Nigeria limited; Koya Construction Company and Oriwu Sun Newspaper limited and many, many more.